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The Canadian Interventional Cardiology Device Market Will Remain Relatively Stagnant Through 2022 at Around $80 Million

BURLINGTON, Mass., July 22, 2014 /PRNewswire/ -- Decision Resources Group finds that the market for interventional cardiology (IC) devices in Canada will remain relatively stagnant at a value of around $80 million through 2022. This is despite the fact that percutaneous coronary intervention (PCI) volumes are growing faster in Canada relative to other developed markets, such as the United States and Europe. This growth will be largely driven by the increase in penetration of PCI procedures relative to coronary artery bypass graft surgeries and increasing use of intravascular imaging and pressure devices. However, declining prices will result in relatively flat market growth overall.

Other key findings from Decision Resources Group's coverage of the Canadian IC device market:

  • Faster PCI growth compared to the U.S.: PCI volumes in Canada are also growing faster than in the U.S. because Canadian physicians have been slower to adopt intravascular imaging catheters and pressure guidewires. Although these devices help identify appropriate stenting candidates, thereby reducing unnecessary stenting procedures, use of these devices has been lower in Canada due to budget constraints.
  • Increasing emphasis on identifying stenting candidates: However, as prices of intravascular imaging catheters and pressure guidewires come down, Canadian physicians will increasingly adopt these tools. As a result, the number of stenting procedures will decline, limiting PCI volumes somewhat.
  • Declining prices: The Canadian IC device market will also be hindered by declining prices, especially for drug-eluting stents, which represent the largest portion of IC device revenues.

Comments from Decision Resources Group Analyst Sivani Paskaradevan:

  • "Price declines are largely a result of the strong presence of group purchasing organizations and long-term tenders in Canada. Price is therefore the primary determinant of purchasing in the country because hospitals are extremely cost-conscious. As a result, companies are being pressured to decrease prices significantly in order to secure purchasing contracts."
  • "A number of new technologies are poised to enter the Canadian IC device market in the coming years. For example, Abbott is anticipated to release its bioresorbable vascular scaffold technology in 2017, and C. R. Bard and Medtronic are both expected to launch drug-coated balloons in 2018. In addition to the major multinational competitors, Opsens—which is a domestic competitor—is anticipated to launch its fractional flow reserve guidewire within a year."

Additional Resources:

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Christopher Comfort

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SOURCE Decision Resources Group
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